£25 bonus for HL active savings account - expires 06/12/2019

pjsandy

It's also held with Barclays Bank Plc, rather than Barclays Bank UK Plc (the latter being the retail bank). It's a different banking licence, so you're covered up to £85k even if you already have money with Barclays Bank UK Plc.

MPN

colsten wrote: »

If you can spare £5,000 for at least 6 months and fancy one of the savings accounts Hargreaves Lansdown offer, you can get a £25 sign-up bonus between now and December 6 2019.

Details here.

£25 Terms and Conditions

A convenient account for the £5,000 could be the 6-months Charter Savings Bank account, paying 1.57% AER. With the £25 bonus, the return would be 2.07% AER. Opening the account and depositing the money is a doddle, particularly if you already have an account with HL. It does, however, seem to take a week before your money actually starts earning interest (memories of Raisin....). I am not sure how long withdrawals take.

Thanks so much Colsten. I just opened an account for myself and my wife this morning and as you said it was a doddle. We both invested £5000 in the 6 month Charter Savings Bank deal but it finishes today so we only just got there in time. Thanks again for the info and an account with HL could be useful in the future. I currently have our SIPP's with Fidelity (only IT's) and our ISA's with iWeb funds and IT's so the HL account will be good for active savings or anything else they offer that is suitable.

Chloe_G

I opened an Active Savings a couple of weeks ago - this is TYPICAL of my luck!!

d63

ok, dumb question, but supposing i were to use this active account to open, say, that 6 month charter a/c as mentioned above, would that mean if i then log in to my already existing charter bank saving account would i then be able to see this new account there alongside my old one? (or indeed be able see my old account in the HL active a/c?)

umm, i suppose what i am trying to get at here is it like this open banking business where one can see all ones bank accounts from different providers all in one app?

sandowarham

MPN wrote: »

Thanks so much Colsten. I just opened an account for myself and my wife this morning and as you said it was a doddle. We both invested £5000 in the 6 month Charter Savings Bank deal but it finishes today so we only just got there in time. Thanks again for the info and an account with HL could be useful in the future. I currently have our SIPP's with Fidelity (only IT's) and our ISA's with iWeb funds and IT's so the HL account will be good for active savings or anything else they offer that is suitable.

So it looks as though this savings account is now available until 6th December.
I have a question though - it says interest is paid annually. Does this mean that it wont be added monthly and if i withdraw after 6 months I wont receive interest?
Many thanks

gozaimasu

You'd have to check the T&Cs of the partner bank and it depends on the product you choose. If you choose easy access, you could get the £25 bonus then withdraw all your money and interest.

Given that you're stuck there for 6 months, it looks like the best deal (as has been suggested) is the 1.57% Charter Savings bank which is fixed for 6 months. I haven't read their conditions but I assume after a fixed period you're free to withdraw with interest accrued up until that date.

colsten

sandowarham wrote: »

So it looks as though this savings account is now available until 6th December.
I have a question though - it says interest is paid annually. Does this mean that it wont be added monthly and if i withdraw after 6 months I wont receive interest?
Many thanks

You'll get the interest on maturity, i.e. when the 6 months are up.

colsten

d63 wrote: »

umm, i suppose what i am trying to get at here is it like this open banking business where one can see all ones bank accounts from different providers all in one app?

I doubt it.

Zanderman

d63 wrote: »

ok, dumb question, but supposing i were to use this active account to open, say, that 6 month charter a/c as mentioned above, would that mean if i then log in to my already existing charter bank saving account would i then be able to see this new account there alongside my old one? (or indeed be able see my old account in the HL active a/c?)

No.

Any account opened by HL via their Active Savings system is an account in your name, but it's not an account you can access via the provider bank. Only accessible through HL.

Zanderman

The 6-months Charter Savings Bank account, paying 1.57% AER that 'ended' yesterday has restarted today (not entirely to my surprise) with a new deadline date of 5th December.